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Expert views on IGL, Reliance Infra & Hindalco

Discussion in 'Technical Analysis' started by naveen1241, Jan 18, 2013.

  1. naveen1241

    naveen1241 Responder

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    Expert views on IGL, Reliance Infra & Hindalco

    - Can someone explain if these are good stocks to look at based on the charts,peer company valuations and macros.

    Thanks
    Naveen
     
    naveen1241, Jan 18, 2013
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  2. shabbir

    shabbir Administrator Staff Member

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    IGL good support at around 25ish and break out above 270ish should be good to get into this stock.

    Rel Infra is trading in range of 440 to 560 and so avoid at higher levels and may be buy around the support levels in the leg up and not in leg down.

    Hindalco has good support at 115 and 105 which if not broken can go long in the leg up.
     
    shabbir, Jan 18, 2013
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  3. naveen1241

    naveen1241 Responder

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    Thanks Shabbir for such a fast response..i had same views on IGL exactly. About Hindalco also pretty much the same view ..but was unsure about Reliance Infra. In fact, seeing NIFTY not breaking down, i was thinking of taking risk on Reliance Infra. So any intermediate SL for reliance infra ?
     
    naveen1241, Jan 18, 2013
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  4. shabbir

    shabbir Administrator Staff Member

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    500is is a support and again the same. Buy in the leg up and not in leg down.
     
    shabbir, Jan 18, 2013
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  5. naveen1241

    naveen1241 Responder

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    Targets for IGL please ? or trailing SL?
     
    naveen1241, Jan 18, 2013
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  6. shabbir

    shabbir Administrator Staff Member

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    Buy points is not as of now and so SL and target would be when buying into this stock
     
    shabbir, Jan 18, 2013
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  7. naveen1241

    naveen1241 Responder

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    I already hold positions @ 255
     
    naveen1241, Jan 18, 2013
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  8. krasquinha

    krasquinha Member

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    Hi Shabbir,

    Stock closed @274, i think it will touch 350 . Is it a good buy with ST 255 ? Please comment...

    Regards,
    Kiran
     
    krasquinha, Jan 18, 2013
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  9. shabbir

    shabbir Administrator Staff Member

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    Yes but make sure you follow stop religiously. If not 255 make sure you do not hold this stock under 245
     
    shabbir, Jan 19, 2013
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  10. naveen1241

    naveen1241 Responder

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    Hi,
    RelInfra has formed a triple top and has been falling. But is there much downside considering NIFTY at this high levels. Wont this be a buying opportunity ? Comments please.
     
    naveen1241, Jan 21, 2013
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  11. shabbir

    shabbir Administrator Staff Member

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    Forming triple top and then asking for buying is not something I understand.
     
    shabbir, Jan 21, 2013
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  12. naveen1241

    naveen1241 Responder

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    Okay.My explanation goes like this. I never go buy the technicals alone. NIFTY at 6050 levels .And hence I feel there's much downside in Rel Infra and cannot see the stock again going to check support levels of 440 after forming the triple top. I have a view that the SL could be around 514 levels. So I was asking if this levels could be buying opportunities.
     
    Last edited: Jan 21, 2013
    naveen1241, Jan 21, 2013
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  13. shabbir

    shabbir Administrator Staff Member

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    The way you analyze is spotting stock that cannot go down and I look at stocks which can move up when going long but I think you are fine if it works for you.
     
    shabbir, Jan 21, 2013
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